HomeMy WebLinkAboutREP FC 541 08/16/1988 1984-1988 !' REPORT OF THE 410 "=4,
COMMITTEE ON FINANCE
Date: August 16, 1988 Re: Comm. 1745
Place : Councilroom
Time: 10 : 00 a.m.
Chairman and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Bill 613 , reports
as follows:
Bill 613 proposes to amend Ordinance 88-81, as amended, the Capital
Improvement Budget for Fiscal Year 1988-89, by adding the following
project :
DEPARTMENT OF PUBLIC WORKS
Hilo Wastewater System - Planning $741, 698
(110-699-5692. 51-115)
Hilo Wastewater System - Design & Construction $2, 000 ,000
(110-699-5692.52-115)
Hilo Wastewater System - Construction $3,000 ,000
(110-699-5692.53-115)
Total $5, 741, 698
Your Committee understands that funds for this project shall be
provided from the State .
Your Committee further understands that the State has agreed to
advance a portion of their share of the cost and that this advance
would be expended by the County for planning ($741, 698) and design
and construction ( $2,000 ,000) .
Your Committee also understands that Act 390 of the 1988 State
Legislature appropriated a grant of $3,000 ,000 for the construction
of the new wastewater facility.
During discussion, the Chief Engineer explained the sources of the
financing. He explained that aside from the EPA' s commitment , the
State will provide 40 percent of the cost . He further explained
that the amount of $2,741,698 is a partial advance of the 40 percent .
FC REPORT No . 541
ADOPTED : AUG 2 5 1988
411 , 4
FC- 541 Page 2 August 16 , 1988
Your Committee questioned the Finance Director as to the
administration ' s plans for the next bond issue . Your Committee was
informed that the total financial package is being calculated and
that a more definite picture should emerge in less than a month.
Your Committee on Finance is in accord with the intent and purpose
Bill6 3 d s reading.
1 an r mmend that it pass first reading.
, _
74.,;
FRANK DE LUZ III, CHAIRMAN �'RA` E R. WHAKU-INOU E, .C.
(ABSENT & EXCUSED)
TAKASHI DOMINGO, MEMBER RUSSELL S. KOKUB N, MEMBER
cut Wawa
MER K. LAI, MEMBE' ' SPENCER K. SCHUTTE, MEMBER
LA/HAT/KK